The Obama Administration’s Making Home Affordable Program (HAMP) is a critical piece of the effort to bring relief to distressed homeowners and stabilize the housing market. What the program is attempting to do is to work with loan servicers to reduce a homeowners monthly mortgage payment. Homeowners that are struggling to make their mortgage payments on time, either due to an adjustable interest rate increasing or less income, can apply for HAMP. The program will reduce a homeowner’s monthly mortgage payment to 31 percent of their verified gross (pre-tax) income to make their payments more affordable.

Are You Eligible For HAMP?

You may be eligible for HAMP if you answer YES to all these questions.

Are you the owner-occupant of a one to four-unit home?
Do you have an unpaid principal balance that is equal to or less than:

• 1 Unit: $729,750

• 2 Units: $934,200

• 3 Units: $1,129,250

• 4 Units: $1,403,400

Have a first lien mortgage that was originated on or before January 1, 2009?
Have a monthly mortgage payment (including taxes, insurance, and home owners association dues) greater than 31% of your monthly gross (pre-tax) income?Have a mortgage payment that is not affordable due to a financial hardship that can be documented?

If You Qualify

Homeowners who qualify for HAMP must complete a trial period of three to four months to demonstrate that they will be able to make their reduced payments on time before their mortgage becomes permanently modified.

To create an affordable payment, your mortgage servicer applies a series of modification steps in the following order:

1. Rate reduction to as low as two percent.

2. Term extension up to 40 years.

3. Principal forbearance (or deferral).

A portion of the principal can also be forgiven, although that is optional and is based on the discretion of the servicer.

If you think you qualify for HAMP, contact your servicer.

For more information and frequently asked questions, please see the Making Home Affordable government website.

Both dogs and cats can either travel with you in your car or take a plane ride. Think it over carefully if you are traveling with them in your car. Animals can get car sickness too. They are usually coping with the extra stress of motion and new surroundings as well as picking up on the anxiety of their owners. Be sure to take rest stops to help alleviate all of these symptoms. Have drinking water available with a bowl, access to air when in the car, and room to move. While in the midst of excitement and stress remember to keep your animals on a leash at all times as they will instinctively want to run when the car doors open to get back home to their comfort zone.

Want to send your critters on a plane ride? Keep these things in mind. Check with your airlines for any specifics you might have to abide by in order to get them on the plane. Your pet will most likely need a pet certificate prior to boarding. Again, call the airline for specifics on that and at the same time see what their regulations are for the size of crates/boxes you need for your pets. When putting your pets in their travel crates or containers make sure they have water and food and possibly a piece of your clothing so the scent will calm them.

For smaller animals such as hamsters, mice, guinea pigs or birds you can transport them as well. Again, make sure they have food, water, and a clean cage with room to move. These smaller animals can’t have the drafts that a dog or cat might enjoy. Sometimes it’s best to cover their cages to keep out any extreme temperatures, drafts or activity outside the vehicle.

Fish on the other hand are not real practical to move. It’s not easy to move an aquarium as a gallon of water alone can weigh eight pounds. It is best to plan to give the fish away to another loving home, or check with your vet, or sell them. You can restock your aquarium when you reach your new destination.

Your veterinarian, boarders, pet store owners and the airlines can be a wonderful resource for you and your pets!

Want to be part of the conservation efforts and sustainability efforts in the world? Here are some quick tips:

Start with appliances that are not in use. These can utilize up to 70% of your energy bill. They continue to use electricity even when not in use. The best way to combat that is to use power strips as much as possible and then you can unplug a bunch of things at one time. They can use these for cell phones, lap tops, coffee makers, toasters, etc.

The obvious; switch out those old light bulbs for the new compact fluorescent bulbs (CFL’S) which are about 4 times more efficient that the traditional Incan -descent bulbs. They also can last up to 10 times longer.

Check out those dual flush toilets. These toilets have two buttons, each dispersing two separate amounts of water. These can save up to 65% of water used daily by a traditional toilet. These toilets can cost anywhere from $160-$400.

Caulking windows and insulating can be huge energy savers as well. Make sure the caulking material you use is conducive to the material your are applying it to. Talk with home experts regarding proper insulation type and installation. Payback on these two items alone can sometimes be seen in the first two years of installation.

Keep your furnace filters clean and use a programmable thermostat. Have your furnace serviced at regular intervals; maybe a new one is in order.

Consider Bamboo as alternative for flooring. It’s environmentally friendly due to the fast rate at which it replenishes itself. It takes about 5 years or so to mature compare to 35-100 years for hardwoods. Again, make sure the glue you use is not formaldehyde- based.

Reduce your plastic usage. They have a huge environmental impact from the minute they are made to when they are tossed or recycled at best. Help combat global warming. Get your own grocery bags or if you are only getting one or two items at the grocery store ask NOT to get it in a bag.

Save those trees. Use less paper and be conscious of the paper you do use. Remove yourself from junk mail lists or recycle that mail you toss. You can contact optoutprescreen.com or call 888-567-8688 to opt out of insurance or credit cards offers.

Another resource for recycling would be your city’s website for local information. A resource for junk mail is Direct Marketing Assoc. Mail Preference Service. P.O.Box 643, Carmel NY 10512. Write to them and sign up to opt out of most junk mail lists. It’s a start. It might take a little of your time but consider that we are tossing approx. 4.5 million tons of this away each year.

As fall creeps into the air here are some items that need your attention around the home. Clean out those gutters one more time before Fall. With this great weather it’s a good time to repair leaks or replace damaged downspouts. Replace some gutter screws, get some decorative spout trays for even distribution of water flow or get yourself a rain barrel.

Central air-conditioning? This is a good time to check your system out. Make sure you’ve cleaned out all the condensation in the drain line. Clean out any algae or other debris. You can easily clean those lines with a bleach mixture.

Before you store away your window screens, make sure they are clean. You can clean them easily with a soft scrub brush and warm soapy water. Clean both sides of the screen. Rinse and allow to dry and you’ll be ready for next year.

Windows can be checked for leaks or cracks and you can decide whether they need to be replaced or not. Tax credits are still being allowed through the end of this year for energy upgrades.

Insulation, water heaters, and furnaces can be checked out as well. When were they last serviced? Have all filters been changed out? There are tax credits still being offered for these energy upgrades until the end of this year.

It’s time to prepare for the Fall and Winter months by getting these easy, smaller projects out of the way.

This is a question often asked by those who want to know if the cost of staging a home is worth the investment in an already down market. Below is some food for thought that will hopefully help you decide what will work best for you.

The Positives

• Staging can help people visualize the amount of available space in a room which they can then mentally picture their own furniture and items in the rooms.

• A clean well staged home can make rooms look larger.

• Elegant decorating and staging can add character to an otherwise empty home.

• Staging can help draw attention to the best attributes of the home.

The Negatives

• Staging a space can make it look claustrophobic and cluttered.

• Some buyers prefer an empty home that they can picture their own items in.

• Staging done improperly can be a significant detriment how well the home shows.

• Staging can be expensive.

Know What Kind of Market You’re In

By knowing what kind of real estate market you’re in, you should be able to get a better idea of whether or not staging your home will be effective or not.

Buyer’s Market

Currently, we’re in a buyers market. There’s plenty of homes on the market to choose from, so anyone selling their home will have some competition. To set yourself apart from the others, staging can be a helpful tool. Elegant decorations can draw attention to the space and “feel” of the room, rather than draw attention to the emptiness which may reveal minor issues.

Seller’s Market

In a sellers market, buyers are competing for your home, so it won’t often require the expense of staging, although it may help your home stand out.

The best advice is to understand your home, and have an understanding of the market. Know whether it’s a buyer’s or seller’s market. Know your homes best features. Find out from a professional stager what would complement your home perfectly. Regardless, understanding your home will help you determine that staging or leaving the home empty showcases your home the best.

New credit card rule have been enacted from the CARD (Credit Card Accountability, Responsibility and Disclosure) Act, created to protect consumers from predatory practices. Credit Card companies must now give you 45 days advance notice before raising your rates. Their billing statements must be reveal how long it takes to pay off a balance with just a minimal payment being made as a minimal payment increases your interest. Your interest can now only be increased once a year; no longer at the whim of the credit card companies.

They will now have restrictions on over-the-limit fees. You will no longer be able to automatically go over your limit at the point of purchase. Thus, no automatic over-the-limit fees will be applied. There are now fee caps. All Annual or application fees cannot equal more than 25% of the initial card limit.

Under 21? You will now need an adult co-signer or proof that you can pay the card. Gives parents and kids a chance to learn about the responsible usage of credit. Your statements will now be delivered no less than 21 days before your payment is due. Standardized billing with standardized times for receiving payments. Double billing within one month doesn’t exist any longer either as companies were double-cycle billing to change how interest was being calculated.

The new rules don’t cover corporate cards so watch for rate hikes there as the industry as a whole will take a loss in revenue of up to 10$ billion annually due to the current changes. Be sure to look for new fees; like annual fees, processing fees or activity fees. There will probably be cuts in rewards points as well.

Shop around for other cards. Check out all the above mentioned points. Keep those hard earned dollars of yours in your pocket, pay off your balances monthly and check out those smaller banks or credit card companies. Some of the worst offenders of practices that have changed were from some of our largest institutions.

Fall is a great time to shop for earth friendly supplies and teach our children some healthy alternatives at the same time. An average family can spend up to $250.00 on school supplies ie paper, notebooks, lunch boxes, pencils, pens, crayons etc. Not to mention electronics. Many of these supplies contain toxins that can affect our children’s learning and come with a cost to our environment.

Shop for nontoxic art supplies. Double check those paints, markers and glues for toxic ingredients. Look for the AP label for safe supplies. (The Art and Creative Materials Institute or ACMI) This label will indicate that the products are less toxic though not necessarily free of toxins.

Paper is a huge culprit for toxins as bleach is used to brighten the paper so be careful when purchasing paper for your kids. Much of the paper used for school supplies come from endangered forest in the southern US and Indonesia. The paper industry is the 4^th largest emitter of greenhouse gases and the 3^rd largest of industrial waste. Choose your paper carefully, use it sparingly and recycle appropriately.

Fannie Mae recently released some useful information for people who are looking to buy a home. Primarily, you need to ensure that you can keep the home over the long term. Please see the following five steps provided by Fannie Mae regarding things you need to do before you consider looking for or purchasing a home.

1. Get Educated. Learn about mortgages and how they work. By doing your research, you can ensure that you obtain an affordable mortgage.

2. Get Your Finances In Order. Have pay-stubs and other employment related paperwork ready as well as any other financial documents in order. Due to today’s more critical lending guidelines, you can save yourself time and headaches by preparing and organizing your finances.

3. Establish a Budget. Understand your financial situation and know how much of a monthly mortgage payment you could afford.

4. Start Saving. You’ll need to have some money saved up in order to fund the down payment on the home, the deposit (typically 2% of the purchase price), and closing costs.

5. Get Pre-Approved. By getting pre-approved for a loan you can safely start your house hunt and will be focused in a price range you can afford.

Keep in mind, pre-qualification does not mean you have an approved loan. You would still need to apply for a loan if your offer on a home is accepted.

After your home’s exterior has given potential buyers a reason to see the interior of your home, evaluate the inside of your property as follows.

• Make sure all windows are washed, and that blinds are open to invite as much light in as possible. Light and bright sells houses.

• Remove all smoke, pet, and hobby odors from the property.

• Clean and dust all light bulbs and fixtures to ensure the lighting is bright.

• Shampoo carpets and vacuum them often. If the carpet is stained or does not wash well, consider replacing it with a neutral color. If there are hardwood floors underneath, consider utilizing them.

• Clean your house from top to bottom. Remove unused or “clutter items” from the home and store in a storage unit. Buyers are attracted to storage areas, so if you can clear out your sheds, attic spaces, or other storage areas on your property, buyers can visualize how much space your home has.

• Remove posters and adhesives from the walls and repair any holes in the wall that may be caused by nails or other mishaps.

• Clean or paint the basement walls and floor.

• Wax hardwood floors.

• Remove cobwebs.

• Paint inside walls with an off-white paint. Use two or more coats to cover bold, bright, or dark walls. Newly painted walls add brightness to the home.

• Ensure doorknobs are in good working order.

• Make sure that all entrance doors – front door, storm door, screen doors – are in good working condition. If not consider replacing or refinishing them. This is the first impression a potential buyer has of the property. Lighting and cleanliness are extremely important.

• Repair or replace all room doors, closet doors, and windows and screens so that they open with ease.

• Repair or replace banisters or handrails.

• If there are broken tiles on walls or floors repair or replace them.

• Replace toilet bowls if you cannot get them spotlessly clean.

• Improve the plumbing to increase water pressure. Buyers will always check this.

Remember – clean, light, and bright sells houses and will help you achieve top dollar for your home.

When a potential buyer approaches in their car they make their first decision: whether or not they actually stop to look at your home. A neat, attractive, manicured, and maintained home on the outside will entice buyers to have a look inside.

Here’s a Couple Suggestions

• Keep the yard mowed, watered, raked, and fertilized.

• Remove all children’s toys and playthings from out from view.

• Remove unsightly patio furniture, trash items, and debris from your yard.

• Trees and shrubs should be trimmed and pruned attractively. Gardens need to be weeded so they won’t look overgrown.

• All hoses and garden equipment should be neatly put away and out of sight.

• Outdoor furniture should be kept clean and/or repainted if required. Stack firewood neatly or out of sight.

• Walkways and driveways should be clear of debris. During the winter, make sure to clear snow and ice.

• Paint your mailbox if needed. Ensure that your house number is legible.

First impressions are lasting. By attending to the details you can ensure that you’ll have the attention and the interest of potential buyers.

Items to Evaluate

• Porches, steps, verandas, balconies, patios and other extensions to your house should be uncluttered, swept, and in good repair.

• Paint all entrance doors. This is where potential buyers usually form an opinion on what the interior of the house will be like.

• Shades and awnings should be in good condition. Replace them if needed. Wind socks and chimes can be obnoxious. Consider taking them down.

• Keep trash cans deodorized, covered, and out of sight..

• Gates, fences, sheds, and other outbuildings should be cleaned, repaired, and painted if needed.

• Clean, repair, and paint all gutters and downspouts.

• All loose roof shingles, tiles, or other roofing materials should be secured or replaced if required.

• Make sure that the garage door opens easily. Repair and paint it if needed.

• Ensure that the chimney is in good order and that no bricks are loose. Caulk where the chimney meets the roof.

Ensuring the items above are attended to can make the difference between a buyer taking an interest in your home and sending up a red flag about your home’s condition. A buyer may find something an issue that you may feel is insignificant.